Top Stocks to be Focused for 16 May 2017

Electrosteel Steels: The company has reported a net loss of Rs 293.33 crore during the quarter ended March 31, 2017. It had posted a net profit Rs 265.14 crore in the year-ago quarter, it said in a BSE filing.

JK Tyre : JK TyreBSE 4.00 % & Industries Ltd reported consolidated net profit at Rs 92.03 crore for the fourth quarter ended March. The tyre-maker had posted a net profit of Rs 122.30 crore in the corresponding period of last fiscal, the company said in a regulatory filing.

Oil marketing companies : BPCLBSE -0.10 %, HPCLBSE -0.27 % and IOC will remain in focus on Tuesday after they cut petrol price by Rs 2.16 per litre and diesel by Rs 2.10 a litre, reversing the four week trend of rising rates.

Rural Electrification Corp : State-run Rural Electrification Corp (REC) on Monday said that it will extend financial assistance of Rs 85,723 crore to Tamil Nadu power utilities TANGEDCO and TANTRANSCO.

CPCL : Chennai Petroleum Corporation LtdBSE -4.47 % (CPCL), a group company of Indian OilBSE 1.55 %, has achieved highest throughput of 10.256 MMTPA during 2016-17, besides reaching the highest ever distillate yield, a top company official said on Monday.

Alembic Pharmaceuticals : The company has received approval from the US health regulator for Fenofibric Acid Delayed-Release capsules used for lowering high cholesterol and increasing good cholesterol.

ICICI Bank, HDFC : Following SBI, two leading private lenders ICICI Bank and HDFC LtdBSE 0.13 % on Monday slashed interest rate by up to 0.3 per cent for loans of up to Rs 30 lakh to promote affordable housing.

Dr Reddy’s Laboratories : The company on Monday said it has launched a generic version of Sofosbuvir 400 mg and Velpatasvir 100 mg fixed-dose combination, indicated for the treatment of chronic hepatitis C, in the country.

Skipper : Power Transmission and distribution major Skipper Limited reported a net profit of Rs 52.78 crore for the fourth quarter ending March 17, up by 46 per cent over last year’s profit of Rs 36.12 crore during the corresponding period.

Pharma companies : Drug price regulator NPPA on Monday revised ceiling prices of five scheduled drug formulations used in treatment of various ailments, including seizures, epilepsy and allergic rhinitis, among others.

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